J. Safra Sarasin Holding AG Has $23.56 Million Stock Holdings in Deere & Company $DE

J. Safra Sarasin Holding AG decreased its holdings in shares of Deere & Company (NYSE:DE) by 39.2% in the 1st quarter, Holdings Channel.com reports. The firm owned 41,828 shares of the industrial products company’s stock after selling 26,972 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Deere & Company were worth $23,561,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LGT Fund Management Co Ltd. lifted its holdings in shares of Deere & Company by 25.4% during the first quarter. LGT Fund Management Co Ltd. now owns 1,630 shares of the industrial products company’s stock worth $918,000 after buying an additional 330 shares during the last quarter. Global Assets Advisory LLC acquired a new stake in shares of Deere & Company in the first quarter worth $60,000. Diversify Wealth Management LLC acquired a new stake in shares of Deere & Company in the first quarter worth $1,582,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Deere & Company by 0.4% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 58,725 shares of the industrial products company’s stock worth $33,080,000 after acquiring an additional 247 shares during the period. Finally, Fifth Third Bancorp increased its position in Deere & Company by 17.0% during the first quarter. Fifth Third Bancorp now owns 267,308 shares of the industrial products company’s stock worth $150,575,000 after acquiring an additional 38,910 shares during the period. Institutional investors and hedge funds own 68.58% of the company’s stock.

Analyst Ratings Changes

DE has been the subject of a number of research reports. Wall Street Zen raised shares of Deere & Company from a “sell” rating to a “hold” rating in a report on Sunday, July 5th. Wolfe Research upped their price objective on shares of Deere & Company from $550.00 to $660.00 and gave the company an “outperform” rating in a research report on Tuesday, March 31st. Jefferies Financial Group upgraded shares of Deere & Company from an “underperform” rating to a “hold” rating and set a $550.00 target price for the company in a research note on Wednesday, April 8th. Raymond James Financial decreased their target price on Deere & Company from $765.00 to $700.00 and set an “outperform” rating on the stock in a research report on Friday, May 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $752.00 price target on shares of Deere & Company in a research note on Monday, June 1st. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, Deere & Company presently has a consensus rating of “Moderate Buy” and an average price target of $642.23.

Trending Headlines about Deere & Company

Here are the key news stories impacting Deere & Company this week:

• Positive Sentiment: D.A. Davidson’s new coverage on AGCO highlighted that weak farm conditions can still support equipment makers like Deere, reinforcing the view that replacement demand and pricing power may hold up better than expected for agricultural OEMs. Farming Is Terrible Right Now. That’s Good for Deere and AGCO Stocks.
• Positive Sentiment: Jim Cramer was upbeat on Deere, calling the stock “incredible” and suggesting it still has room to go higher, which may help sentiment around the shares. Jim Cramer on Deere & Company: “The Stock Is Incredible, and It’s Not Done Going Higher”
• Neutral Sentiment: An analyst report on Deere was published, but no clear thesis or rating details were provided in the feed, so it is likely a limited near-term catalyst. Analyst Report: Deere & Co
• Negative Sentiment: Deere settled a right-to-repair dispute with the FTC, requiring it to provide farmers and independent repair providers the same repair resources as authorized dealers for 10 years. Investors may see this as a hit to Deere’s control over service revenue and after-sales economics. Deere settles right to repair dispute with FTC

Deere & Company Trading Up 0.1%

Shares of Deere & Company stock opened at $587.36 on Monday. Deere & Company has a 52-week low of $433.00 and a 52-week high of $674.19. The firm has a market capitalization of $158.55 billion, a PE ratio of 33.28, a price-to-earnings-growth ratio of 2.17 and a beta of 0.89. The company has a debt-to-equity ratio of 1.54, a current ratio of 2.18 and a quick ratio of 1.95. The company’s fifty day moving average price is $581.74 and its two-hundred day moving average price is $567.68.

Deere & Company (NYSE:DE) last released its quarterly earnings data on Thursday, May 21st. The industrial products company reported $6.55 EPS for the quarter, topping analysts’ consensus estimates of $5.70 by $0.85. Deere & Company had a net margin of 10.09% and a return on equity of 18.25%. The company had revenue of $13.37 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period last year, the firm earned $6.64 EPS. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts expect that Deere & Company will post 18.13 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 10th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $1.62 per share. The ex-dividend date is Tuesday, June 30th. This represents a $6.48 dividend on an annualized basis and a yield of 1.1%. Deere & Company’s dividend payout ratio (DPR) is currently 36.71%.

Deere & Company Profile

Deere & Company, commonly known by its brand John Deere, is a global manufacturer of agricultural, construction and forestry machinery, as well as turf care equipment and power systems. Founded in 1837 by blacksmith John Deere—who developed a polished steel plow to improve tillage in tough prairie soils—the company is headquartered in Moline, Illinois, and has grown into one of the largest and most recognizable names in equipment manufacturing worldwide.

The company’s principal businesses include a broad portfolio of agricultural equipment such as tractors, combines, planters, sprayers, harvesters and tillage implements, complemented by precision agriculture technologies and telematics that support farm management, yield optimization and equipment connectivity.